Colgate-Palmolive (NYSE:CL) Shares Sold by Stevens Capital Management LP

Stevens Capital Management LP lowered its stake in shares of Colgate-Palmolive (NYSE:CL) by 41.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,642 shares of the company’s stock after selling 11,106 shares during the quarter. Stevens Capital Management LP’s holdings in Colgate-Palmolive were worth $1,247,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. OFI Invest Asset Management purchased a new position in Colgate-Palmolive in the third quarter valued at approximately $25,000. Avion Wealth grew its position in shares of Colgate-Palmolive by 78.1% during the fourth quarter. Avion Wealth now owns 399 shares of the company’s stock worth $32,000 after buying an additional 175 shares in the last quarter. McGlone Suttner Wealth Management Inc. acquired a new stake in Colgate-Palmolive in the fourth quarter valued at $34,000. Kayne Anderson Rudnick Investment Management LLC boosted its stake in Colgate-Palmolive by 142.0% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 496 shares of the company’s stock valued at $35,000 after acquiring an additional 291 shares during the last quarter. Finally, West Branch Capital LLC increased its holdings in Colgate-Palmolive by 24.0% in the fourth quarter. West Branch Capital LLC now owns 682 shares of the company’s stock valued at $54,000 after buying an additional 132 shares during the last quarter. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Colgate-Palmolive Stock Performance

Shares of CL traded up $1.72 during trading hours on Friday, reaching $91.01. 7,417,554 shares of the company traded hands, compared to its average volume of 4,608,007. The stock’s fifty day moving average is $87.51 and its 200 day moving average is $81.30. The company has a debt-to-equity ratio of 8.59, a quick ratio of 0.71 and a current ratio of 1.11. The stock has a market cap of $74.81 billion, a P/E ratio of 32.59, a price-to-earnings-growth ratio of 3.34 and a beta of 0.42. Colgate-Palmolive has a 1-year low of $67.62 and a 1-year high of $92.25.

Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, April 26th. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.04. The business had revenue of $5.07 billion for the quarter, compared to analysts’ expectations of $4.96 billion. Colgate-Palmolive had a net margin of 11.82% and a return on equity of 509.75%. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.73 earnings per share. Equities research analysts anticipate that Colgate-Palmolive will post 3.5 earnings per share for the current fiscal year.

Colgate-Palmolive Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 22nd will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.20%. The ex-dividend date is Friday, April 19th. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.48. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 71.94%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on CL shares. Stifel Nicolaus increased their target price on shares of Colgate-Palmolive from $89.00 to $94.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. UBS Group lifted their price target on Colgate-Palmolive from $93.00 to $95.00 and gave the company a “buy” rating in a report on Monday, January 29th. The Goldman Sachs Group started coverage on Colgate-Palmolive in a research report on Friday, March 1st. They issued a “buy” rating and a $93.00 target price on the stock. Evercore ISI boosted their price target on Colgate-Palmolive from $90.00 to $96.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Finally, Morgan Stanley boosted their target price on Colgate-Palmolive from $85.00 to $93.00 and gave the stock an “overweight” rating in a report on Monday, January 29th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $89.50.

Insiders Place Their Bets

In other Colgate-Palmolive news, CEO Noel R. Wallace sold 50,000 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $83.15, for a total transaction of $4,157,500.00. Following the completion of the sale, the chief executive officer now directly owns 274,179 shares of the company’s stock, valued at approximately $22,797,983.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Colgate-Palmolive news, CEO Noel R. Wallace sold 69,948 shares of the stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $84.22, for a total value of $5,891,020.56. Following the sale, the chief executive officer now directly owns 286,881 shares in the company, valued at $24,161,117.82. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Noel R. Wallace sold 50,000 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $83.15, for a total transaction of $4,157,500.00. Following the completion of the sale, the chief executive officer now owns 274,179 shares of the company’s stock, valued at approximately $22,797,983.85. The disclosure for this sale can be found here. Over the last three months, insiders sold 232,371 shares of company stock valued at $19,505,099. Insiders own 0.34% of the company’s stock.

Colgate-Palmolive Profile

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It operates through two segments: Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.